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Monitor Report of SOUTH KOREA trade and SOUTH KOREA-China binational trade in 202006

 1.  Overview the trade of SOUTH KOREA in goods current year until 202006

According to Dalian Infobank, in 202006SOUTH KOREA's exports and imports of goods amounted to 74840.3178 million, and were down 10.98% comparing with the same period of last year. Among these, exports were down 10.82% at 39228.0153 million, and imports were down 11.15% at 35612.3025 million. And the corresponding trade surplus was 3615.7129 million and down 7.42%.

During the current year until 202006, SOUTH KOREA's total exports and imports of goods were 470164.1143 million and were down 10.17% comparing to the same period of last year. Among these, exports were 240596.1307 million and down 11.21%; imports were 229567.9836 million and down 9.05%. The total trade surplus was 11028.1471 million and down 40.55%.

If considering by country (region), CHINA, UNITED STATES, JAPAN, VIETNAM, HONG KONG were SOUTH KOREA's top five trading partners. During the current year until 202006, SOUTH KOREA's imports and exports to five countries/territories were 112914.6913 million, 64879.5305 million, 34779.7826 million, 31179.7133 million, 15819.9722 million. These values correspond to 24.02%, 13.80%, 7.40%, 6.63%, 3.36% of SOUTH KOREA's imports and exports, and, respectively, were down 5.61%, down 3.63%, down 9.97%, down 5.68%, down 7.83% comparing to the same period of last year.

Current year until 202006, SOUTH KOREA and the top five trade partners CHINA, UNITED STATES, VIETNAM, HONG KONG, JAPAN are the top five countries/territories that SOUTH KOREA exports to in terms of the total export amount. During the current year until 202006, SOUTH KOREA's exports to these five countries/territories were 61449.4507 million, 34566.5481 million, 21153.9804 million, 14997.5301 million, 12787.0044 million. These values correspond to 25.54%, 14.37%, 8.79%, 6.23%, 5.31% of SOUTH KOREA's exports and, respectively, were down 6.35%, down 6.25%, down 8.43%, down 7.45%, down 10.17% comparing with the same period of last year.

Current year until 202006, SOUTH KOREA's exports to top five countries/territories CHINA, UNITED STATES, JAPAN, GERMANY, VIETNAM are the top five countries/territories that SOUTH KOREA imports from in terms of the total export amount. During the current year until 202006, SOUTH KOREA's imports from these five countries/territories were 51465.2406 million, 30312.9824 million, 21992.7782 million, 10147.5955 million, 10025.7330 million. These values correspond to 22.42%, 13.20%, 9.58%, 4.42%, 4.37% of SOUTH KOREA's total imports and, respectively, were down 4.73%, down 0.46%, down 9.85%, up 10.26%, up 0.72% comparing with the same period of last year.

During the current year until 202006, the trade surplus of SOUTH KOREA was mainly from HONG KONG, VIETNAM, CHINA, UNITED STATES, INDIA at 14175.0881 million, 11128.2474 million, 9984.2102 million, 4253.5657 million, 2760.7814 million, and down 7.02%, down 15.37%, down 13.89%, down 33.72%, down 47.57%. And the trade deficits were mainly from JAPAN, AUSTRALIA, SAUDI ARABIA, GERMANY, QATAR at 9205.7738 million, 6313.7327 million, 6203.1607 million, 5766.6283 million, 4244.3825 million, and down 9.41%, up 3.74%, down 36.62%, up 21.44%, down 34.85%.

Current year until 202006, SOUTH KOREA's trade surplus or deficit with top five countries/territories During the current year until 202006,  commodities with hs2 codes, 85, 84, 27, 87, 39, were SOUTH KOREA's top five traded commodities. They correspond to the import and export values of 116928.6057 million, 61902.0653 million, 61269.3446 million, 31167.8050 million, 20209.7113 million, which were down 1.14%, down 2.99%, down 28.32%, down 20.68%, down 8.00% comparing with the same period of last year and account for 24.87%, 13.17%, 13.03%, 6.63%, 4.30% of SOUTH KOREA's total imports and exports.

During the current year until 202006, 85, 84, 87, 39, 27 were SOUTH KOREA's top five traded commodities, with total import and export values of 73240.1512 million, 34066.2736 million, 23061.5876 million, 14691.5670 million, 13354.8853 million. These values correspond to 30.44%, 14.16%, 9.59%, 6.11%, 5.55% of SOUTH KOREA's total exports and, respectively, were down 1.95%, down 5.57%, down 27.05%, down 9.84%, down 35.54% comparing to the same period of last year.

During the current year until 202006, 27, 85, 84, 90, 87 were SOUTH KOREA's top five traded commodities, with total import values of 47914.4593 million, 43688.4545 million, 27835.7918 million, 9133.0621 million, 8106.2174 million. These values correspond to 20.87%, 19.03%, 12.13%, 3.98%, 3.53% of SOUTH KOREA's total exports and, respectively, were down 26.01%, up 0.25%, up 0.37%, up 2.58%, up 5.52% comparing to the same period of last year.


2. Current year until 202006, SOUTH KOREA binational trade profile

According to Dalian Infobank, during the current year until 202006, SOUTH KOREA-China binational exports and imports of goods amounted to 112914.6913 million and were down 5.61% comparing with the same period of last year. Among these, exports from SOUTH KOREA to China were 61449.4507 million and down 6.35%, imports from China to SOUTH KOREA were 51465.2406 million and down 4.73%. The total binational trade surplus was 9984.2102 million and down 13.89%.

During the urrent year until 202006, commodities with hs2 code, 85, 84, 39, 29, 90, were binational trade's top five traded commodities. They correspond to import and export values of 44034.6303 million, 15801.2645 million, 6321.4394 million, 5687.2880 million, 5505.4192 million and makes up 39.00%, 13.99%, 5.60%, 5.04%, 4.88% of the total binational imports and exports. These values were also up 1.29%, down 11.85%, up 0.16%, down 26.58%, down 10.11% comparing to the same period last year.

During the current year until 202006, 85, 84, 39, 90, 29 were the top five traded commodities exported to China from SOUTH KOREA, with export values of 25169.6451 million, 8451.5575 million, 4827.4661 million, 4080.2248 million, 3871.2707 million. These values account for 40.96%, 13.75%, 7.86%, 6.64%, 6.30% of SOUTH KOREA's total exports and were up 3.98%, down 15.15%, up 0.03%, down 13.16%, down 33.24% comparing to the same period of last year.

During the current year until 202006, 85, 84, 72, 28, 29 were SOUTH KOREA's top five traded commodities importing from China , with import values of 18864.9852 million, 7349.7070 million, 2224.4946 million, 1822.8224 million, 1816.0173 million. These values account for 36.66%, 14.28%, 4.32%, 3.54%, 3.53% of SOUTH KOREA's total imports and were down 2.08%, down 7.71%, down 25.57%, down 0.77%, down 6.74% comparing with the same period of last year.


3.Analysis of import and export trends


Data Source: Korea Customs and Trade Development Institution